Paging Dr. C

If you haven't noticed, DrC is kickin ass and takin names. Up over 2% today alone and it has crossed a very important technical barrier. IF it can consolidate and hang here...and I think it will...it looks to be breaking out and rolling higher at almost exactly the same time as last year. Here, see for yourself:

So, why is this important? As mentioned in the post from last week, copper has a track record as a leading indicator of future PM price. While copper rallied about 45% in the time period listed above, gold and silver had huge gains, too. From 8/1/10 to 1/1/11, gold rallied about 22%. In the same timeframe, silver rallied over 70%!

Similar performance in the remaining months of this year would take copper to nearly 600, gold to 1850 and silver to 62.

In summary, watch ole DrC very closely in the coming days and weeks. If it starts moving out to new highs above 465, it will be just another surefire indicator that the next UP move in the PMs will be explosive and amazing. TF

I would argue that move in Copper last year correlated with the QEII announcement that came at their fun time conference out West. To anticipate this same pattern playing out this year imo the markets would have to be discounting QEIII perhaps?

Turd says "Similar performance in the remaining months of this year would take copper to nearly 600, gold to 1850 and silver to 62".

These are not outrageous projections at all, although some may think so. The fact of the matter is that continual currency debasement (QE/stimulus in whatever form), with massive deficits will provide the fuel to drive the metals higher. There are supply/demand issues to deal with as well, as the McGuire/China exchange story pointed out.

$1550 and $38-40 are clearly the defense lines for the cartel. A breach above these (a couple of strong closes) and we're off to the races again.

Turd, what are thoughts on Martin Armstrong's outlook on gold prices into early 2012? He's had some good calls in the past.......? I find it hard to believe that gold lingers in the 1450 range (even into high 1300's) for the remainder of the year, however, maybe he is right that the big boys may make a good stab at the heart of the PM complex.

i like everything about the idea except the vegas part. vegas specializes in three things: prostitution, gambling, and drunkenness. that's not a city, it's a disease. north idaho's silver valley? silver city new mexico? silverton, colorado?

I wish oh i wish you know, that i could see this world in unity. Yhea man each and every one would be free, nothing to worry about you know. No barriers no boundaries, nothing to hold us down. You see what i mean, yeha man this way it will be wonderful. yeha man it will be beautiful ....

(Public, NYSE:JJC) I cant remember where I read this but JJC was suggested as a good ticker to keep an eye on copper trends. Looking for good things to come with a close above 59 by end of July. i thinkj that's what the article said.

On the first Friday of EVERY month (at 8:30 EDT) the BLS releases jobs data for the prior month.

ADP releases their employment report (which is typically a summary of the BLS report) usually 2-3 days prior to the BLS one. Many use the ADP data as a way to glimpse what the official BLS BS will say.

TreeFrog, Wow you are really thinking today. I like it. However, I had a buddy who lived in SilverCity NM. Not much to do except mountain bike, look for prostitutes, look for gambling and get drunk. (totally kidding, my buddy was a geologist for one of the copper mines in silver city.)

We can let Senior TF pick the town. Vegas has cheap rooms, cheap flights and plenty of convention/meeting space. But first we need Silver to hit 67!!

Wouldn't good news be good for PMs? Looking at how strong gold and silver surged this week, with more 'positive' economic news tomorrow will continue to bode well for oil and PMs. Don't see a slow down until maybe mid next week perhaps.

Do the unemployed buy or sell Silver maybe? ..what impact it will have (purportedly!) on the stock markets is lost on me! Will it impact Caterpillars sales? Maybe Apples? How about JPMorgue? Nope, Niet and just a little (JPM make socially disturbing profits shuffling foodstamps for their shop-front, the US Govt... socialism creates unemployment and unemployment creates profits for fascists, lovely!!)

Years of job reports and not a jot of difference to the markets it's made (even once)

With China about to shit a giant BRIC, I think the HG move is manipulation by you-know-who, for whatever nefarious reasons they may have. I'm not going to stand in front of it, but it will go back down, and I'd like to ride it back to the low 4s--just have to decide when enough is enough.

Don't forget the high of 4.65 was back in Feb, when the world was wildly bullish. All it's going to take is some bad news out of China which can't be ignored, and the bulls will race for the exits. A 6 handle is ludicrous!

P.S. No matter what the BLS says tomorrow, it will be spun as the greatest thing since sliced bread, ergo more short-term HG gains...

If you are day trading they can oftentimes give you a heads up as to what the day will look like, but day trading is risky, so don't do it unless you have the psychological hardiness of a rhino! Good luck!

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